Four Corners Property Trust, Inc. (NYSE:FCPT) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its stake in Four Corners Property Trust, Inc. (NYSE:FCPT - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,680 shares of the financial services provider's stock after selling 52,056 shares during the period. CIBC Private Wealth Group LLC owned about 0.08% of Four Corners Property Trust worth $1,981,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Four Corners Property Trust by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,874,938 shares of the financial services provider's stock worth $295,146,000 after buying an additional 240,230 shares during the period. Geode Capital Management LLC boosted its position in Four Corners Property Trust by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,357,175 shares of the financial services provider's stock worth $69,101,000 after purchasing an additional 27,552 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Four Corners Property Trust by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,822,422 shares of the financial services provider's stock worth $49,463,000 after buying an additional 48,319 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Four Corners Property Trust by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,612,978 shares of the financial services provider's stock valued at $43,776,000 after purchasing an additional 94,903 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Four Corners Property Trust by 2.4% during the 4th quarter. William Blair Investment Management LLC now owns 1,399,446 shares of the financial services provider's stock worth $37,981,000 after purchasing an additional 33,450 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts recently commented on the company. JMP Securities reiterated a "market perform" rating on shares of Four Corners Property Trust in a research report on Thursday, February 13th. Barclays cut their price objective on Four Corners Property Trust from $31.00 to $30.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company raised their target price on shares of Four Corners Property Trust from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Four Corners Property Trust has an average rating of "Moderate Buy" and a consensus price target of $30.20.

Four Corners Property Trust Stock Down 3.3 %

Shares of FCPT traded down $0.92 during trading on Monday, reaching $26.78. The company's stock had a trading volume of 1,505,204 shares, compared to its average volume of 603,273. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 25.02 and a beta of 0.93. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.36. Four Corners Property Trust, Inc. has a twelve month low of $22.38 and a twelve month high of $30.93. The company has a fifty day moving average of $28.16 and a two-hundred day moving average of $28.27.

Four Corners Property Trust (NYSE:FCPT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.16. Four Corners Property Trust had a net margin of 37.48% and a return on equity of 7.54%. On average, sell-side analysts predict that Four Corners Property Trust, Inc. will post 1.68 EPS for the current fiscal year.

Four Corners Property Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.355 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.30%. Four Corners Property Trust's dividend payout ratio (DPR) is 132.71%.

About Four Corners Property Trust

Four Corners Property Trust, Inc engages in the owning, acquisition, and leasing of properties for use in the restaurant and food-service related industries. It operates through the Real Estate Operations and Restaurant Operations segments. The Real Estate Operations segment consists of rental revenues generated by leasing restaurant properties.